Neo Performance Materials (TSE:NEO) Stock Price Down 3.6% – Here’s What Happened

Shares of Neo Performance Materials Inc. (TSE:NEO) traded down 3.6% during mid-day trading on Tuesday . The stock traded as low as C$24.30 and last traded at C$24.81. 201,602 shares changed hands during trading, a decline of 21% from the average session volume of 254,644 shares. The stock had previously closed at C$25.73.

Analyst Upgrades and Downgrades

NEO has been the subject of several recent analyst reports. BMO Capital Markets set a C$30.00 target price on shares of Neo Performance Materials and gave the stock an “outperform” rating in a report on Friday, February 20th. Stifel Nicolaus increased their price target on shares of Neo Performance Materials from C$22.50 to C$23.00 and gave the company a “buy” rating in a report on Friday, February 6th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$26.50.

Neo Performance Materials Stock Performance

The company has a debt-to-equity ratio of 22.00, a current ratio of 2.24 and a quick ratio of 1.92. The company has a market cap of C$851.53 million, a PE ratio of -127.94 and a beta of 1.25. The business has a 50-day moving average of C$22.04 and a 200 day moving average of C$19.32.

Neo Performance Materials (TSE:NEO) last issued its quarterly earnings data on Thursday, March 19th. The company reported C$0.01 earnings per share (EPS) for the quarter. The firm had revenue of C$157.96 million during the quarter. Neo Performance Materials had a negative net margin of 1.30% and a negative return on equity of 1.59%. Equities research analysts anticipate that Neo Performance Materials Inc. will post 0.6753356 EPS for the current fiscal year.

Neo Performance Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 29th. Shareholders of record on Monday, December 29th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Friday, December 19th. Neo Performance Materials’s dividend payout ratio is presently -177.80%.

About Neo Performance Materials

Neo Performance Materials Inc is engaged in the innovation, development, processing, and manufacturing of rare earth and rare metal-based functional materials. Its operating segments include Magnequench, Chemicals & Oxides, Rare Metals, and Corporate. The Magnequench segment produces magnetic powders used in bonded and hot-deformed, fully dense neodymium-iron-boron magnets. The Chemicals & Oxides segment manufactures and distributes a broad range of advanced industrial materials. The Rare Metals segment produces specialty metals and their compounds, such as tantalum, niobium, hafnium, rhenium, gallium, and indium.